Need some help finding a 2 bedroom in south williamsburg, our budget is 1800-2000, we're splitting rent based on room size, so varying sizes please

Asked by Salvatore Gambino, Brooklyn, NY Thu Jan 17, 2013

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Trevor Curran, Mortgage Broker Or Lender, Great Neck, NY
Tue Aug 20, 2013
Rent today; Buy tomorrow. How to convert from Tenant to Homeowner.

When I rented my first apartment in Astoria, I did not want to be a Tenant my whole life and pay my Landlord’s mortgage. I longed to become a Homeowner.

That’s why I found my way into the mortgage business in 1989 and soon afterward became a Homeowner. Here are the fundamentals any Tenant should know to prepare to become a Homeowner in the future, no matter when that might be.

• Credit: Establish 3 credit accounts, no more than 5. Pay your bills on time. Keep your balances to no more than 50% of your credit limit. Don’t pay off the accounts in full. Keep balances active for 12-24 months. All of the above will provide both a good credit score and adequate credit history to qualify for a mortgage loan.

• Assets: A basic savings budget isn’t hard to do. Pay your rent first in your budget; then set aside 10% of your income before taxes . Make it a budget priority and you’ll still have money left over for entertainment and restaurants and clothing.

How much money do you need to buy a home? Many buyers spend no more than $25,000 to buy their first homes. There are loan programs with low down payment requirements and many real estate agents negotiate for their Buyers a “Seller’s concession” to include the Buyer’s closing costs (which are HIGH here in New York!) in the price of the home.

• Income: Two years consistent income is the basic requirement for either a salaried individual or a self-employed person. Income from Bonus, Commission, and Overtime is treated differently and is best discussed with your Mortgage Banker.

• Market Survey: it doesn’t hurt to go out and get to know neighborhoods where you might like to buy a home. Visit open houses on Saturdays and Sundays. It’s okay that you’re not yet buying; tell the Realtor at the Open House you’re just beginning your “survey.” You’ll also get to know market prices for different kinds of homes. It’s okay to “window shop” homes on the weekend at Open Houses!

I hope these fundamentals will help you better understand the path to homeownership is a process that, with preparation and dedication, you can move through easily. And if you’re interested in getting Prequalified today to create an Action Plan for your future of Homeownership, call me anytime!

Trevor Curran
NMLS #40140

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
0 votes
Jessica B, , Brooklyn, NY
Tue Jan 29, 2013
Hi, Im Jessica from Coldwell Banker. I can help you Find what your looking for. Give me a call back at 917-698-4555 or Email me back at to discuss your options.

Thank you.
Jessica B
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Claudia Will…, Agent, New York, NY
Mon Jan 21, 2013
Give me a call. I have a few new listings in Williamsburg that you might like.

Licensed Real Estate Broker.
0 votes
Alyce Serrano, Home Buyer, Brooklyn, NY
Mon Jan 21, 2013
Please give me a call. Alyce Serrano, Licensed Real Estate Salesperson. 917-203-9167
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Rolando Fana, Agent, New York, NY
Sat Jan 19, 2013
Hello Salvatore I know where you want to live and I found the property your interested in. Its under your budget if you want more information email me and we could discuss further. Its out there and it could be yours. Email me.
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Anna M Brocco, Agent, Williston Park, NY
Thu Jan 17, 2013
Consider working with an agent; also check local print media for by owner rentals, always verify ownership before exchanging any money; word of mouth, etc.
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Milton Monse…, Agent, New York, NY
Thu Jan 17, 2013
Salvatore I forgot to mention that we have over four thousand apartments in our data base.
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Milton Monse…, Agent, New York, NY
Thu Jan 17, 2013
Why not work with an agent. Let me help you find your new place.
Rapid Realty
958 Lafayette Avenue
Brooklyn NY11221
0 votes
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